GASCO Completes Acquisition of 50% Stake in JACKO Gases

National Gas and Industrialization Holding Co. (GASCO) said Monday it closed the regulatory steps for its purchase of a 50% stake in JACKO Gases. The deal, completed June 24, adds a competitor's capacity to GASCO's existing industrial gases network.

JACKO Gases is a private Saudi company that supplies oxygen, nitrogen, argon and other specialty gases to hospitals, factories and oilfield operators. GASCO, one of the kingdom's largest gas distributors, already runs filling plants and cylinder logistics across several cities.

The 50% ownership gives GASCO a direct hand in JACKO's production and customer base without a full consolidation. That structure lets the buyer integrate supply chains while keeping JACKO's brand and management separate, people familiar with the matter said.

Saudi Arabia's industrial gases market has grown with the expansion of petrochemical plants, steel mills and healthcare infrastructure. The government's push to localize manufacturing has lifted demand for bulk gases used in welding, cutting and inerting. GASCO's move consolidates a fragmented segment where a handful of private players serve regional pockets.

Financial terms were not disclosed. The acquisition closed after GASCO secured approvals from the relevant regulatory bodies, the company said in a statement. No further details on the timeline or integration plan were provided.